Aussie sees refinanced home loans soar

Tuesday 21 July 2009

Article by Mozo

Aussie customers were eager to refinance their home loan in June, with many looking to take advantage of the record low interest rates being witnessed after consecutive cuts from the Reserve Bank of Australia (RBA).

The bank’s founder and chief executive John Symond has announced that refinanced deals accounted for 38.5 per cent of all home loans handed out last month, up from 30.2 per cent in March.

Commenting on the figures, he said that many people have been complacent about their mortgage in past months.

"But our figures show that more and more of them are taking advantage of record interest rate lows and are actively seeking out the best deal," he claimed.

Earlier this month, Mr Symond also advised homeowners and investors to put some serious thought into overpaying on their home loan to take advantage of the RBA’s record low interest rates.

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